Tiverton-based energy company Bruce Power announced a new innovation centre to focus on next generation nuclear technologies Thursday.
The Nuclear Innovation Institute Next Generation Nuclear Technologies centre is a partnership between Bruce Power and Saskatchewan-based company Cameco. According to a release, the centre will identify post-Covid economic, environmental and healthcare opportunities.
“Innovations in nuclear energy will help support new technologies like small modular reactors (SMRs), cancer-fighting isotopes and hydrogen development by using infrastructure investments that will drive the economy now and power the world of the future,” a statement from Bruce Power explains. “It will also look at how the current Bruce Power site output can be further enhanced with new technologies and as foundational enablers.”
In a prepared statement, Premier Doug Ford says: “This new initiative will help drive Ontario-made and Canadian-made innovation for these emerging technologies and support our province’s economic recovery. I want to thank Bruce Power and Cameco for this important investment, as well as for their generous community and PPE donations to support our front-line heroes and those in need over the past few months. Working together, we will ensure our communities can recover and our economy can come roaring back.”
Bruce Power and Cameco also announced other partnership developments between the two companies on Thursday. One, they will be expanding their role in support of life-saving medical isotopes. Cameco will contribute its expertise with its facility in Cobourg to the development of Bruce Power’s new Isotope Production System being developed by its partner IsoGen that will help produce Lutetium-177, used to treat prostate cancer and neuroendocrine tumors.
And two, Bruce Power says a new arrangement with Cameco will see the Saskatchewan company supply start-up fuel when Bruce Power’s nuclear reactors are ready to return to service following the major component replacement project.
“This builds on the existing fuel arrangements between the two organizations announced in 2017 which was estimated to be worth $2 billion at the time and over the life of the contracts,” a Bruce Power release explains.
The president and CEO of Bruce Power Mike Rencheck says: “Today’s announcement, along with the existing long-term arrangements between Bruce Power and Cameco, opens the door to assist the provincial governments in both Saskatchewan and Ontario with getting the economy back on its feet after six difficult months working to protect and keep people safe in both provinces. We’re extremely grateful to Premiers Ford and Moe, and the members of their respective governments, for realizing the positive impact that the nuclear industry has on the lives of Canadians.”
“Our focus, through the Centre, on next generation nuclear technology is anchored on the basis of building from our existing assets including life extension and efficiencies, partnerships and supply chain,” continues Rencheck. “This has the potential to fully leverage existing assets, reducing the need for more costly new generation in the future, creating a foundation for new medical isotopes and a hydrogen economy all while laying the foundation for new nuclear such as SMRs.”
